IRS Issues Hurricane Wilma Relief

By Ascensus October 27, 2005

October 27, 2005 – The IRS has issued News Release IR-2005-128 granting qualifying taxpayers who are victims of Hurricane Wilma an extended period of time…

November 2005 Interest Rates

By Ascensus October 21, 2005

October 21, 2005 – The IRS has released the applicable federal interest rates for November 2005 as posted in Revenue Ruling 2005-71. These rates are…

Hope Waning for Pension Reform Bill

By Ascensus October 20, 2005

October 20, 2005 – Chances for 2005 passage of S. 1783, the Pension Security and Transparency Act, appear to be dimming. The Pension Security and…

IRS Releases 2005 Tax Year Form 1042

By Ascensus October 20, 2005

The IRS has released the 2005 tax year Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons. This form is used…

Deadline Postponements Due to Wyoming Tornado

By Ascensus October 14, 2005

The U.S. Department of Labor (DOL), Pension Benefit Guaranty Corporation (PBGC), has issued a news release concerning relief granted to certain victims of a tornado…

IRS Issues Cost-of-Living Adjustments for 2006

By Ascensus October 14, 2005

The IRS, on Friday, October 14, 2005, has issued the cost-of-living adjustments (COLAs) for 2006 for various retirement savings amounts relating to IRAs, IRA-based retirement…

SSA Announces 2006 Taxable Wage Base Increase

By Ascensus October 14, 2005

The Social Security Administration announced Friday, October 14, 2005, the taxable wage base (TWB) for 2006. The 2006 figure is $94,200 (increased from $90,000 for…

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